CFO asks lawmakers to reduce storm risks

TALLAHASSEE, Fla. (AP) - The state's chief financial officer says it's time to start making some smart decisions on reducing the risk for Florida property owners from hurricane damage.

In a letter to key lawmakers Thursday, CFO Alex Sink recommended the Legislature authorize the Cabinet to shop for reinsurance in the fall instead of the spring to take advantage of more liberal market conditions.

She also asked lawmakers to continue a $20 million program that motivates citizens to make home improvements that make them less susceptible to wind damages.

Sink said property owners cannot afford more shocks to their homeowners insurance rates like they were following a series of
hurricanes that hit the state in 2004 and 2005.

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